NEW YORK (CNN/Money) - The television executive who helped create the E! Entertainment cable network is planning to launch an all-reality TV cable channel as well, according to a published report Monday.

The Wall Street Journal reported that Larry Namer, co-founder of E!, is set to meet with potential advertisers about plans for his new channel, Reality Central. Some of the seed money for the new network is coming from contestants on past reality shows, including Blake Mycoskie, a former losing contestant on CBS reality hit "Amazing Race," who is set to serve as the new network's chairman.

Plans call for the network to debut in January.

The paper said that half of the planned show's schedule will be original programming, including reports on what has happened to contestants from other shows, while 25 percent is expected to be repeats of reality-show "classics"; and the remaining 25 percent international reality shows dubbed into English. One reality show may be about the creation of the network itself, the paper reports.

While reality shows have done very well in ratings in recent seasons, they are seen as having little strength for repeats or syndication rights. Namer still needs to work out syndication rights for the shows of which he wants to air repeats.

The Journal said that the network would start off on the digital tier of cable stations, but that it hopes to be in 30 million cable homes within two years.